worcester Warriors Sale Gets Over The Line
Jim O’Toole and James Sandford have seen their Atlas consortium bid for rugby union club Worcester Warriors accepted by administrators Begbies Traynor.
O’Toole, previously the ex-Premiership side’s Chief Executive, and business partner Sandford have finally completed the purchase of the club and its assets, which includes the Sixways Stadium.
Worcester Warriors entered administration earlier this season, resulting in their expulsion from the Gallagher Premiership. Now, Atlas Worcester Warriors can take over the running of the club after beating off competition from former Director of Rugby Steve Diamond and two other alleged bids.
Julie Palmer, Partner at Begbies Traynor, said, “We can confirm that contracts have been exchanged with Atlas.
“Following a complex process, we are now able to progress the sale of Worcester Warriors and associated assets to Atlas Worcester Warriors Rugby Football Club Limited.”
It has been almost six months since O’Toole made his first offer to buy the club from previous owners Colin Goldring and Jason Whittingham last August, but the process is finally complete.
Following relegation from the Premiership earlier in the season, Warriors are aiming to return to the Championship next season. Another rugby side relegated for financial reasons, Wasps, hold the same wish.
Both clubs have been given a further deadline extension running until 14th February to allow them to meet the RFU’s criteria to enter the Championship in 2023/24.
An RFU statement read, ‘The proposed buyers of Worcester Warriors had informed the RFU (in December) that they were not prepared to meet the conditions set, which included commitments not to dispose of land around Sixways Stadium without approval and were unable to satisfy the RFU of the sources and sufficiency of funding.
‘The RFU was not able to confirm the suitability of the prospective owners. Therefore, the RFU Board was unable to approve their application. If that position changes within the deadline, the RFU will be able to reconsider whether the application can be approved, but if not, then unfortunately the RFU decision will remain the same.’
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